Chapter3AssessmentASoliman
Adam Soliman 1st Period
9/24/14 Business
Ch.3 Assessment: Business in the Global Economy
3-1:
1. Which of the following would be an example of international business?
A sales staff in South Carolina representing a foreign producer.
2. When a country’s imports exceed it’s exports, there is a trade deficit. 3. The value of a country’s currency is likely to decline as a result of higher inflation.
5. Explain how the internet and other technology help to expand international trade and global business activities.
The internet helped the seller reach a huge range of buyers. The company does not have to send salespersons to sell the product. Other technology helps decrease shipping time so products can reach the consumer, and increase production of products so there is more to export.
3-2:
1. True or False. Infrastructure is a significant factor that affects the economic development of a country.
True.
2. True or False. An informal trade barrier is created by government actions.
False.
3. Religion is an element of the ___ component of the international business environment. cultural 4. A country that wishes to enhance international trade activities would most likely use a common market
5. Use the internet to locate info about laws in foreign countries different from the US.
3-3:
1. A company is planning to sell the rights to its brand name for use in other countries. This is an example of a licensing agreement.
2. The international organization that settles trade disagreements and enforces free trade agreements is the
WTO.
9/24/14 Business
Ch.3 Assessment: Business in the Global Economy
3-1:
1. Which of the following would be an example of international business?
A sales staff in South Carolina representing a foreign producer.
2. When a country’s imports exceed it’s exports, there is a trade deficit. 3. The value of a country’s currency is likely to decline as a result of higher inflation.
5. Explain how the internet and other technology help to expand international trade and global business activities.
The internet helped the seller reach a huge range of buyers. The company does not have to send salespersons to sell the product. Other technology helps decrease shipping time so products can reach the consumer, and increase production of products so there is more to export.
3-2:
1. True or False. Infrastructure is a significant factor that affects the economic development of a country.
True.
2. True or False. An informal trade barrier is created by government actions.
False.
3. Religion is an element of the ___ component of the international business environment. cultural 4. A country that wishes to enhance international trade activities would most likely use a common market
5. Use the internet to locate info about laws in foreign countries different from the US.
3-3:
1. A company is planning to sell the rights to its brand name for use in other countries. This is an example of a licensing agreement.
2. The international organization that settles trade disagreements and enforces free trade agreements is the
WTO.